The Federation Allocation Accounts Committee (FAAC) has deducted N622.75 million over a 15-month period to repay loans disbursed to farmers under the Central Bank of Nigeria’s (CBN) Anchor Borrowers Programme. The Anchor Borrowers Programme, launched by the CBN in November…
By Seun Ibiyemi The Central Bank of Nigeria (CBN) under Governor Yemi Cardoso has seen a significant boost in Nigeria’s banking reserves, reaching N26.8 trillion in August 2024, up from N19.4 trillion a year earlier. This surge follows the CBN’s…
The Central Bank of Nigeria (CBN), says it is partnering with Microfinance Banks (MFBs), to enhance financial inclusion to stimulate growth of Micro, Small and Medium Enterprises (MSMEs) in the country. Mr Sah Nyashi, CBN Controller, Yola Branch, said this…
The Central Bank of Nigeria (CBN) says it has provided additional 20,000 dollars each to eligible Bureau de Change at an exchange rate of N1,590. This is to further boost foreign exchange liquidity. Dr Wiliam Kanaya, CBN’s Acting Director, Trade…
…Decision to further tighten interest rate unanimous — Cardoso …MPR hike will slow down investments, economic growth — Experts By Seun Ibiyemi The Central Bank of Nigeria (CBN) raised its Monetary Policy Rate (MPR) by 50 basis points on Tuesday,…
By Matthew Denis In a significant move to address rising inflation, the Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) has increased the monetary policy rate (MPR) from 26.75 percent to 27.25 percent. The decision was announced…
The Central Bank of Nigeria has reduced the cybersecurity levy on electronic transactions from 0.5 percent to 0.005 percent according to its new fiscal guidelines for 2024-2025. “The CBN shall continue to enforce the payment of the mandatory levy of…
…As CBN prioritises leadership with Keystone Bank board overhaul By Esther Agbo The Central Bank of Nigeria (CBN) has scheduled its 297th Monetary Policy Committee (MPC) meeting for September 23 and 24, 2024, at its headquarters in Abuja. This pivotal…
The Central Bank of Nigeria (CBN) has reaffirmed that its Ways and Means Advances to the federal government will continue to be maintained at the 5 percent threshold for fiscal years 2024-2025. This is according to the Monetary, Credit, Foreign…
The Central Bank of Nigeria (CBN) plans to expend the use of its digital currency, eNaira, to facilitate payments into government accounts and allow Ministries, Departments, and Agencies (MDAs) to initiate vendor and beneficiary payments. This is according to the…
